Consumer Economics

Behavioral Economics: The Basics is the first book to provide a rigorous yet accessible overview of the growing field that attempts to uncover the psychological processes which mediate all the economic judgments and decisions we make. With recommended further readings throughout, this book is essential for all students taking courses in behavioral economics, economic psychology, consumer psychology, microeconomicsm and game theory, and also for professionals looking for an accessible introduction to the topic. 

This audiobook explains why people buy - and how to use that knowledge to improve pricing, increase sales, and create better, "brain-friendly" brand messaging. Become a more effective leader with the practical tools in this book.

Intriguing and entertaining, The $12 Million Stuffed Shark is a Freakonomics approach to the economics and psychology of the contemporary art world. Why were record prices achieved at auction for works by 131 contemporary artists in 2006 alone, with astonishing new heights reached in 2007? Don Thompson explores the money, lust, and self-aggrandizement of the art world in an attempt to determine what makes a particular work valuable while others are ignored.

In this signal work of history, Bancroft Prize winner and Pulitzer Prize finalist Lizabeth Cohen shows how the pursuit of prosperity after World War II fueled our pervasive consumer mentality and transformed American life. Trumpeted as a means to promote the general welfare, mass consumption quickly outgrew its economic objectives and became synonymous with patriotism, social equality, and the American Dream.

Too often, textbooks turn the noteworthy details of economics into tedious discourse that would put even Joseph Stiglitz to sleep. Economics 101 cuts out the boring explanations and instead provides a hands-on lesson that keeps you engaged as you explore how societies allocate their resources for maximum benefit. From quantitative easing to marginal utility, this primer is packed with hundreds of entertaining tidbits and concepts that you won't be able to get anywhere else.

The 2008 economic collapse proved how resilient and dangerous affluenza can be. Now in its third edition, this audiobook can safely be called prophetic in showing how problems ranging from loneliness, endless working hours, and family conflict to rising debt, environmental pollution, and rampant commercialism are all symptoms of this global plague.

Every day, we make decisions on topics ranging from personal investments to schools for our children to the meals we eat to the causes we champion. Unfortunately, we often choose poorly. The reason, the authors explain, is that, being human, we are all susceptible to various biases that can lead us to blunder. Our mistakes can make us poor and unhealthy. We often make bad decisions about education, personal finance, health care, family, and the environment.

Drawing on unprecedented interviews with former Wal-Mart executives and a wealth of staggering data�including facts such as this: Americans spend $36 million an hour at Wal-Mart stores, this text is an intimate look at a business that is dramatically reshaping the American economy.

Cheap fashion has fundamentally changed the way most Americans dress. Stores ranging from discounters like Target to fast fashion chains like H&M now offer the newest trends at unprecedentedly low prices. Retailers are producing clothes at enormous volumes in order to drive prices down and profits up, and they've turned clothing into a disposable good.

Great marketing strategy looks like magic to the uninitiated. The mystical aura surrounding behavioral economics draws in the intellectually curious but has also confined the discipline to the fringes of modern marketing practices. Unpacking the drivers of human behavior is critical to connecting with consumers, but insights from psychology, neuroscience, and other fields are hidden away in arcane academic publications and books that aren't designed for practitioners.

If the consumer economy had a sex, it would be female. If the business world had a sex, it would be male. And therein lies the pickle. Women are the engine of the global economy, driving nearly 80 percent of consumer household spending in the United States alone. They hold the purse strings, and when they've got a tight grip on them as they do now, companies must be shrewder than ever to win them over.

Richard H. Thaler has spent his career studying the radical notion that the central agents in the economy are humans - predictable, error-prone individuals. Misbehaving is his arresting, frequently hilarious account of the struggle to bring an academic discipline back down to earth - and change the way we think about economics, ourselves, and our world.

Spread through the public in the form of popular stories, ideas can go viral and move markets - whether it's the belief that tech stocks can only go up or that housing prices never fall. Whether true or false, stories like these - transmitted by word of mouth, by the news media, and increasingly by social media - drive the economy by driving our decisions about how and where to invest, how much to spend and save, and more. But despite the obvious importance of such stories, most economists have paid little attention to them. Narrative Economics sets out to change that.

Why do three out of four professional football players go bankrupt? How can illiterate jungle dwellers pass a test that tricks Harvard philosophers? And why do billionaires work so hard - only to give their hard-earned money away? When it comes to making decisions, the classic view is that humans are eminently rational. But growing evidence suggests instead that our choices are often irrational, biased, and occasionally even moronic. Which view is right - or is there another possibility?

Today we think statistics are the enemy, numbers used to mislead and confuse us. That’s a mistake, Tim Harford says in The Data Detective. We shouldn’t be suspicious of statistics - we need to understand what they mean and how they can improve our lives: they are, at heart, human behavior seen through the prism of numbers and are often “the only way of grasping much of what is going on around us”.

From the shuttered factories of the rust belt to the look-alike strip malls of the sun belt---and almost everywhere in between---America has been transformed by its relentless fixation on low price. This pervasive yet little examined obsession is arguably the most powerful and devastating market force of our time---the engine of globalization, outsourcing, planned obsolescence, and economic instability in an increasingly unsettled world.

The recent changes in our economic landscape have only exposed and intensified a phenomenon: an explosion in sharing, bartering, lending, trading, renting, gifting, and swapping. From enormous marketplaces such as eBay and Craigslist to emerging sectors such as peer-to-peer lending (Zopa), "swap trading" (Swaptree), and car sharing (Zipcar), Collaborative Consumption is disrupting outdated modes of business and reinventing not only what we consume but how we consume.

How do people actually behave when confronted with economic choices? And remember, almost every choice we make is economic. While our desires are boundless, our resources are limited and tradeoffs confront us at every turn.

For centuries, economics was dominated by the idea that we are rational individuals who optimize our own “utility”. Then, in the 1970s, psychologists demonstrated that the reality is a lot messier. We don’t really know what our utility is, and we care about people other than ourselves. We are susceptible to external nudges. And far from being perfectly rational, we are prone to “cognitive biases” with complex effects on decision-making, such as forgetting to prepare for retirement.

Based on the single largest neuromarketing study ever conducted, Buyology reveals surprising truths about what attracts our attention and captures our dollars.